GBPCHf just completed wave A in the elliott wave sequence and now by the looks of the rsi it should be coming down for wave B and than up to wave c to come up to the 200sma in the next couple of days/weeks
This pair completed a 5 wave cylce upwards and broke bottom TL. After we can se a double wave retest of the broken TL. Sell here market in order to complete a double wave cycle towards
support @ 1.3920
SL above last high 1.4215
GBP has seen a large short interest the last week(s) and this will most likely continue due to the not so stellar expected growth in the UK.
Technically the GBP has been going south against the CHF for some time now and has recently broken through a fairly strong support level 1.4600 - 1.4630. It retested that ...
Bullish Bat Pattern on the 4h GBPCHF. The 886 is being hit at some decent support as well. There is a small showing of 'hidden' bullish momentum divergence (I'd like to see more of a discrepancy but not a deal breaker to see this as a good trade opportunity.) Looking for a retest of the 'B' Point.